Tiffani Montez' Blog

My latest research on Building Next Generation Mobile Banking Solutions has been published for a few days now. I’ve already gotten phone calls from clients stating this research is not only timely, but speaks to the very challenges their organization is facing when considering how to build next generation mobile banking solutions. The resounding theme, as my latest research uncovers: Even the best mobile strategy can be a victim of poor execution. Digital banking executives are feeling the pain of their current mobile banking platform. While most are plagued with the realization that their current mobile banking platform may not be scalable or flexible enough to deliver next generation mobile banking solutions, others are facing a more disruptive challenge—dealing with the vendor acquisition and consolidation aftermath. Regardless of your current plight, digital banking teams should consider the following as they build next generation mobile banking solutions:

A well-defined strategy can fall short in execution. Technology can make or break even the best mobile banking strategy. The pressure is on to get something out the door, but too much focus on short-term delivery has meant that some banks have sacrificed the ability to deliver long-term capabilities.

A vendor relationship can hinder or enhance your mobile banking strategy. Banks that are using a vendor that has been recently acquired are burdened with the task of understanding how that acquisition will affect their mobile banking strategy and roadmap. Specifically, banks are trying to determine if acquisition will require migration to a new platform, dedicated internal resources to support migration activities, or a new vendor altogether.

Mobile banking needs to be integrated with other touchpoints. Most banks have considered the implications for integrating mobile with other channels; however, few have integrated mobile with channels other than the Web. In order to build new contextual mobile banking experiences, digital banking teams need to obtain insight into what customers are doing in each channel and decide how mobile can enhance that interaction.

Managing technology is hard, and as new smartphone features and capabilities crop up seemingly every day, navigating the ever changing landscape of mobile banking technologies and vendors is only getting harder. My latest report, which forms part of our mobile banking strategy playbook, outlines the tools and technologies digital banking teams need to execute their mobile banking strategy and provides guidance on how to build and optimize existing mobile technologies to increase customer value.